Singapore based crypto trading platform Vauld has raised $25 million in a Series A funding round led by Peter Thiel’s Valar Ventures. The company said, Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, and many more participated in the round.
Vauld’s currently supports over 30 cryptocurrencies to users in more than 160 countries. The company will use funding to support its international growth, licensing and expand its retail crypto banking and investing platform. It also looks to build out its team, aiming to fill at least a hundred new roles. The company partnered with exchange and custody partners, Binance and BitGo to offer its platform in more than 160 countries.
Vauld has high growth, recording a 124.4% quarter-over-quarter increase in AUM from 1Q21 to 2Q21. It also saw more than 200x growth in its global user base over the past year. Vauld CEO Darshan Bathija attributed the growth to its technology and efficient customer support. While the company is based in Singapore, most of its team is in India, he added.
“We have a clear foothold in India and Valar’s investment is a true testament to the optimism we share for the large and emergent Indian market,” Bathija said.
“What cemented the deal is Vauld’s global positioning and ambitions and [its] vision for building customers’ wealth through crypto,” said Andrew McCormack, Co-founder of Valar Ventures, alongside billionaire entrepreneur and PayPal founder Peter Thiel. “We look forward to Vauld benefiting from our team’s expertise in understanding how to build a global business across emerging tech hubs in Europe, Asia and North America,” said Andrew.